You may decide to sell your home within the first 10 years of buying equity. If you do, you must give us the option to buy back this part of your home.
If we do not buy it, you can sell it on the open market. We will then recover any equity that you owe to us at that time.
You decide to buy 50% equity in your home with a market value of £70,000. Your share costs you £35,000.
In year 10 you decide to sell your home, and we choose not to buy back the 50% share from you.
We will then have the house valued. If the valuation is £120,000 then you must pay us 50% equity on the £120,000 (or £60,000).
You must also pay any remaining mortgage on your home.